out to hank smith, chief investment officer. hank, good more thning. are you surprised there is no more optimism in futures? >> no, not really. because here in the united states, it's all about the fiscal cliff and very interesting last week as congress was on recess on vacation, the markets were you up. you now that congress is back in seg, there's a lot of jitteriness and i think you'll continue to see this until there is a resolution at least until we see that the fiscal cliff is being averted, either with a bridge or something more comprehensive and permanent, which is highly doubtful in a lame duck congress. >> for example the durable goods orders, we've seen a fall off in investment. is that owed to this uncertainty over the fiscal cliff? >> absolutely. capital spending is on strike here in the united states and has been for a while. but the good news is 2013 should be the year that certainty replaces uncertainty. unleashing a lot of pept up demand. so we can make the case that we'll see an acceleration of gdp growth with this unleashing of pent up demand in 2013.